You're listening to A Book with Legs, a podcast presented by Smead Capital Management.

At Smead Capital Management, we advise investors who fear stock market failure.

You can learn more at Smeadcap.com or by calling your financial advisor.

Welcome to a book with legs podcast. I'm Cole Smead. I'm the president and a portfolio

manager here at Smead Capital Management. At our firm, we are readers and book junkies. It can be said

that leaders are readers and we believe books provide us a great source of information for filtering

what is and isn't important for us as investors.

Investing is the last great liberal art and the best way to spend a lifetime of learning.

This podcast is for readers, thinkers, business-minded people, and investors who want to grow their knowledge from great authors and their writing.

Charlie Munger often talks about using multiple mental models and analysis.

Our aim for this podcast is to help listeners test munger's theory in business, markets,

and people.

Investors and people we run into and meet often ask us what books are on our reading list.

This is our quarterly episode to talk about books, books, and more books.

Joining me to talk about our reading list is our chief investment officer, my dad, Bill Smead.

Also joining Bill and me for the first time is our colleague and senior analyst,

Seamus Sullivan, Bill and Seamus.

Thanks for joining me today.

Thank you.

Thanks, Cole.

Great to be with you.

So I'm excited to talk about, you know, what we're reading, going over anything we've read, and

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